Visiongain has published a new report entitled Hydrogen Fuelling Stations Market Report 2024-2034: Forecasts by Type (On-Site Production Stations, Off-Site Production Stations), by Size (Small-Scale Stations, Medium-Scale Stations, Large-Scale Stations), by Technology (Electrolysis-based Stations, Natural Gas Reforming-based Stations, Renewable Hydrogen Production-based Stations, Other), by Application (Passenger Vehicles, Commercial Vehicles, Material Handling Vehicles, Backup Power Generation, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global hydrogen fuelling stations market was valued at US$763.0 million in 2023 and is projected to grow at a CAGR of 25.6% during the forecast period 2024-2034.
Infrastructure Development for Heavy-Duty Transport
Infrastructure development for heavy-duty transport, including trucks, buses, trains, and maritime vessels, is driving the deployment of hydrogen fuelling stations in key transportation corridors and logistics hubs. Hydrogen fuel cell technology offers significant advantages for heavy-duty vehicles, including longer range, faster refuelling, and zero tailpipe emissions, making it well-suited for applications where battery electric vehicles may be less practical. Initiatives such as the European Union’s Hydrogen Valleys and the California Fuel Cell Partnership are driving investment in hydrogen infrastructure to support the adoption of hydrogen-powered buses, trucks, and other heavy-duty vehicles.
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How has COVID-19 had a significant negative impact on the Hydrogen Fuelling Stations Market?
The COVID-19 pandemic significantly impacted the hydrogen fuelling station market, introducing challenges that reverberated across the global energy landscape. The restrictions on movement, lockdowns, and economic uncertainties led to a slowdown in various industries, affecting the deployment and expansion of hydrogen infrastructure. The automotive sector, a key player in hydrogen fuel adoption, experienced disruptions in manufacturing and supply chains, affecting the demand for fuel cell vehicles and consequently impacting the need for hydrogen fuelling stations.
One notable example of this impact can be observed in the delay of hydrogen infrastructure projects and the decreased rate of new hydrogen fuelling station installations during the peak of the pandemic. Companies and governments, facing financial constraints and shifting priorities, deferred or scaled down their hydrogen-related investments. For instance, the construction and deployment of hydrogen fuelling stations in certain regions faced delays due to workforce limitations, supply chain interruptions, and a focus on immediate pandemic-related challenges.
However, amid these challenges, some regions and companies demonstrated resilience and adaptability. For example, in countries like Germany and South Korea, where there was a strong commitment to green hydrogen initiatives, the impact of COVID-19 on hydrogen infrastructure projects was mitigated to some extent. These regions continued their efforts to expand hydrogen fuelling station networks, emphasizing the long-term importance of green hydrogen in achieving climate goals.
How will this Report Benefit you?
Visiongain’s 384-page report provides 117 tables and 168 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global hydrogen fuelling stations market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Hydrogen Fuelling Stations. Get financial analysis of the overall market and different segments including type, size, technology, and application and capture higher market share. We believe that there are strong opportunities in this fast-growing hydrogen fuelling stations market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Integration with Renewable Energy and Power-to-Gas Systems
Integration of hydrogen fueling stations with renewable energy sources and power-to-gas systems is enabling the production and distribution of green hydrogen for transportation and energy storage applications. Renewable energy sources such as wind and solar power can be used to power electrolyzes that produce hydrogen through water electrolysis, creating a carbon-neutral fuel that can be used to power fuel cell vehicles and provide grid balancing services. By leveraging excess renewable energy to produce hydrogen, power-to-gas systems and hydrogen fueling stations contribute to the decarbonization of the transportation sector and the integration of renewable energy into the energy system.
Urban Air Quality and Clean Transportation Initiatives
Urban air quality concerns and clean transportation initiatives are driving the adoption of hydrogen fuel cell vehicles and the deployment of hydrogen fueling stations in urban areas with high levels of air pollution. Hydrogen fuel cell vehicles produce zero tailpipe emissions, offering a cleaner and quieter alternative to conventional internal combustion engine vehicles in densely populated cities and urban centers. Municipalities, transit agencies, and fleet operators are investing in hydrogen fueling infrastructure to support the transition to clean and sustainable transportation solutions and improve air quality for residents and commuters. Initiatives such as the California Zero-Emission Vehicle (ZEV) mandate and the European Clean Hydrogen Partnership are driving investment in hydrogen infrastructure to support the adoption of hydrogen fuel cell vehicles and reduce greenhouse gas emissions in urban areas.
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Where are the Market Opportunities?
Infrastructure Development for Heavy-Duty Transport
Infrastructure development for heavy-duty transport, including trucks, buses, trains, and maritime vessels, is driving the deployment of hydrogen fuelling stations in key transportation corridors and logistics hubs. Hydrogen fuel cell technology offers significant advantages for heavy-duty vehicles, including longer range, faster refuelling, and zero tailpipe emissions, making it well-suited for applications where battery electric vehicles may be less practical. Initiatives such as the European Union’s Hydrogen Valleys and the California Fuel Cell Partnership are driving investment in hydrogen infrastructure to support the adoption of hydrogen-powered buses, trucks, and other heavy-duty vehicles.
Collaboration and Partnerships Across Value Chain
Collaboration and partnerships across the hydrogen value chain, including automakers, energy companies, infrastructure developers, and governments, are driving investment and innovation in hydrogen infrastructure and fuelling stations. Public-private partnerships, industry consortia, and research collaborations are facilitating the development of hydrogen ecosystems and enabling stakeholders to overcome technical, regulatory, and financial barriers to hydrogen deployment. Initiatives such as the Hydrogen Council, the H2 Mobility partnership in Europe, and the Clean Hydrogen Mission in India are fostering collaboration and coordination among stakeholders to accelerate the deployment of hydrogen fuelling stations and support the transition to a hydrogen economy.
Competitive Landscape
The major players operating in the hydrogen fuelling stations market are Air Liquide, Air Products and Chemicals, Inc., Atawey, Chart Industries, Inc., Galileo Technologies S.A, H2 Mobility, Humble Hydrogen, Hydrogenious LOHC Technologies, Ingersoll Rand, Linde plc, McPhy Energy SA, Nel ASA, PDC Machines, Powertech Labs Inc., Sera GmbH. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
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15 Nov 2023, A Memorandum of Understanding (MoU) has been signed by ENEOS Corporation, the top energy company in Japan, and Air Liquide, a global leader in gases, technologies, and services for industry and health, to work together to accelerate the development of low-carbon hydrogen in Japan and support the energy transition.
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14 Nov 2023, Air Products at its current hydrogen production plant in Rotterdam, the Netherlands, will construct, own, and run a cutting-edge carbon capture and carbon dioxide (CO2) treatment facility. The plant is anticipated to come online in 2026, and Air Products’ hydrogen pipeline network system will supply the “blue” hydrogen product that results to ExxonMobil’s (Esso) Rotterdam refinery and other clients. When it is put into service, this will be the biggest blue hydrogen factory in Europe.
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